This paper discusses key findings of the Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision (BCP) on the United States. The U.S. federal banking agencies have improved considerably in effectiveness. These improvements are reflected in the high degree of compliance with BCP in this current assessment. Shortcomings have been observed, particularly in the treatment of concentration risk and large exposures, but they do not raise concerns overall about the authoritiesa ability to undertake effective supervision. These shortcomings should, however, be addressed if the United States is to achieve the standards of supervisory effectiveness expected of one of the most systemically important financial systems in the world.The U.S. FBAs guidance discuss that one of the primary areas of focus for
consolidated |supervision of large complex BHCs ... See Federal Reserve BHC
Supervision Manual Section 1050.3.1, and C.C.C Comptrollera#39;s Handbook,
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